SUNRISE RESOURCES PLC
("Sunrise" or "the Company")
20 November 2017
Update - Junction Project
Sunrise Resources plc ("Sunrise" or "the Company"), the AIM-traded company focusing on the development of its CS Pozzolan-Perlite Project in Nevada, USA, is pleased to provide the following update on activities at the Junction Project in Nevada where the Company has ongoing interests.
VR Resources Ltd ("VR"), the registered owner of the property, has announced that:
· Mapping, prospecting and soil sampling are nearly complete.
· Copper sulphide mineralisation related to pegmatites and quartz veins is evident at surface in numerous showings along a strike length of nearly 1,600 m.
· It anticipates completion of a high resolution airborne magnetic/electromagnetic survey in 2018, in order to test along-strike sub-surface continuity of the outcropping mineralisation, and in preparation for a first pass diamond drill program.
As a result of the sale of the Junction Project, Sunrise is a shareholder in VR and, subject to certain exploration milestones being met, will be issued with further VR shares and receive a cash royalty on any future production. A copy of the announcement containing full details of the Junction sale transaction can be seen at:
https://www.sunriseresourcesplc.com/downloads/sunrise-resources-plc-rns-sale-of-junction-gold-copper-project-30-august-2017.pdf
A copy of VR's corporate update containing details of the Junction Project can be seen at: https://vrr.ca/investor/files/vrr-nr-20171116.pdf
Commenting today, Executive Chairman Patrick Cheetham said: "The Junction Project transaction was the first of what we hope to be a series of transactions to valorise our mineral project portfolio following our decision earlier this year to focus on the development of the CS project in Nevada. We are pleased that VR Resources has moved so quickly to initiate exploration of the Junction Property and we look forward to any benefits this may bring to Sunrise in future."
Further information
Sunrise Resources plc Patrick Cheetham, Executive Chairman |
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+44 (0)1625 838 884 |
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Notes:
The news release may contain certain statements and expressions of belief, expectation or opinion which are forward-looking statements, and which relate, inter alia, to the Company's proposed strategy, plans and objectives or to the expectations or intentions of the Company's directors. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such forward-looking statements. Accordingly, you should not rely unduly on any forward-looking statements and save as required by the AIM Rules for Companies or by law, the Company does not accept any obligation to disseminate any updates or revisions to such forward-looking statements. This announcement contains inside information.
Shares in the Company trade on AIM. EPIC: "SRES". Website: www.sunriseresourcesplc.com
